This Woman's Business Start-Up Journey

Keeping focus

So, I am trying to get my focus back onto marketing my business in the most tangible ways.  I have been off on a bit of a tangent with my research and studying of blogs and using them as a marketing tool.  I haven't abandoned the idea, but I realized that all my energy and time was going toward that project and that I hadn't done anything from my marketing plan in the last couple weeks. 

One of the challenges of being a new business owner is being able to differentiate what tasks will make you money.  Since I am not open yet, I am not making any money.  But, I need to be actively marketing my business so that when I do open, I will start making money immediately.  It is easy to get off track, since there is no feedback at all.  No calls, no sales.  So I have to use my imagination I guess.  I need to carry out my marketing plan and imagine how my activities will produce sales.

The fact that it is springtime helps.  I am starting to do some work in my garden.  In my garden, the seeds I plant today will produce beautiful flowers in the summer.  That I know from experience.  I'll just have to trust that the same will apply to my pre-opening marketing. 

Welcome to the Blogosphere

I continue to be impressed with The Blog Squad.  They continue to keep me in their sites (or them in my sites, I don't know which), but either way, it is effective marketing!  They do a fabulous job of leading me along their path and offering me ways to get what I want, spending a little more each time.  Again, effective marketing.  I like their approach, and I want to grow up to be just like them!

So, who is them?  "Them" is Denise Wakeman and Patsi Krakoff.  There are so many ways to find them on the Internet, it was hard to decide which link to provide here. 

I'm continuing my education about how blogs can help my business.  Not this blog...this one is my "rough draft" or training ground.  I'll let you know when I launch my next blog.

Stones in the road

So, I thought that signing my lease was a huge milestone and that everything would start rolling after that.

Wrong.

Now there is the issue of determining if the city's maximum occupancy number will be adequate to run my business and if the center has enough parking spaces per city requirements.  What I've found out is that there is not a rear exit door in the space, and adding one is not an option (the building backs up to a street I'm told.  I haven't even looked at the back of the building yet!).  So, that significantly impacts the maximum occupancy allowed.  And, the previous business in that space only required one parking space for every 300 sq. ft. but my business use they will require one space for every 200 sq. ft.  Since there is a 24 Hour Fitness in the center, I'm sure they take up a lot of the spaces in the lot...not leaving many left for the rest of the tenants.

So, here I am, trying not to feel discouraged and panicked.  This is one of those times when I am grateful I bought a franchise business and am not going it alone.  It is nice to have the franchisor to talk to and turn to for help and advice.  I sure hope this can all get worked out.  I don't even want to think about having to start all over from scratch.

First Milestone

Ink is on paper!  I signed my lease documents on Wednesday March 12.  It seemed at times that it would never happen.  Now the fun really begins.

I am working with an architect to draw up plans to submit to the city.  Another completely new experience which teaches me something every day.  I chose an architect who has worked in my city for many years and who knows the people at the city planning department by name, and they him.  My hope is that I can use "the good ole boys network" to my favor in this case.  The guy is a character...one of those people that looks like they barely have enough money to live on and probably is worth a few million dollars.  But, if he can help me navigate this part of the process quickly and easily, then I am happy to pay him his money.

NOTE:  You can now sign up to receive new blog posts via e-mail.  (Or at least you can in theory...I haven't tested it yet on my blog, but have done it on Alexis' blog and it works!)  So, please scroll down to find the option and sign yourself up!  Things should really start jumping now!

An expert is a matter of opinion

Light bulb experience for this week:  you are an expert if others "buy" that you are one.

Events leading up to this discovery:  In my readings and researching online over the last month about blogs, I came across The Blog Squad.  They seemed to be popping up quite a bit in my searches, so I investigated them a bit further.  What I liked is that they are a woman-owned business, and they are local to So. California.  Not that where they live really matters that much, but I do try to support local business, and I always try to support women's businesses. 

They are successful enough at their marketing that they "convinced" me to spend $20 to attend an audio seminar they were hosting.  I am not one to spend money to get information in this manner, so it impresses me that they were able to do it!  The expert speaker was a woman named Mari Smith who was going to be speaking about using Facebook as a business tool.

I attended about 90% of the call, then had to leave for an appointment. 

Now, I am not here to denegrade any of these women.  The information was somewhat useful.  What I am here to say is that YOU ARE AN EXPERT if you want to be, and if you can market yourself successfully.  Getting the expert knowledge is not the hard part!  Feeling like an expert and knowing how to market your expertise is much harder.  Then, being able to speak and/or write in a clear and concise manner with confidence certifies you!  Now, it helps that this particular topic is so new that there aren't as many "experts" around.  But even in fields and on topics that are much more established, the "experts" certainly don't always agree.  Even on matters of "fact".  Case in point, presidential candidates.  Or education experts. 

Experiences like this help to boost my confidence.  I believe I have what it takes to be an expert, and that will help me build a successful business.

Another Woman's Journey

Here is a name you'll want to know.  Alexis Martin Neely.  She intends to be the next Suze Orman, except her emphasis is on Family Wealth..."Family Wealth (fam*i*lee welth) n. The Whole Wealth that is passed from one generation to the next, including not only financial assets, but also the most often lost
intellectual, spiritual, and human assets that belong to a family."  She is a woman who sees her vision clearly and works feverishly toward it.

I receive her weekly e-zine, and clicked through to her blog today for the first time.  From there, I found that she is starting , as of yesterday, a new blog that is intended to be a personal account of her entrepreneurial journey.  How is that for "coincidence"?  The new blog is The Intrepid Entrepreneur and it's tone and intent and style is much like my blog. 

I invite you to join with her on her journey as well.  Together, we can build a community of encouragement, inspiration, learning and support.   

The Best Laid Plans

In keeping with my life-long learner status, I discovered today that the saying I have quoted for years "the best laid plans of mice and men" is adapted from a poem called "To A Mouse" by Robert Burns.  And, not only did I learn that, but I also learned that he is the same poet who wrote "Auld Lang Syne". 

Of course, none of that has anything to do with the content of my post today, other than the fact that I am here to attest to the fact that "the best laid plans of mice and men oft go awry".

My business requires a storefront.  So, in July of 2007, I started working with a commercial real estate broker to find a location that met the requirements of my franchisor.  My expectation at the time was that it would take about 3 months to find the right spot and about 1 month to negotiate the lease.  It is now March 3, 2008 and I still do not have my signature on the lease.  The 4-month plan has turned into the 7-month plan and counting.

So who's to blame for this delay?  Did I not plan properly?  Did I not work diligently?  Were the perimeters set forth by the franchisor unrealistic?  Did I have the wrong broker?  Were the attorneys slow in responding?  Is my city lacking available retail space?  The answers are mostly no.  The truth is that finding the right retail space is extremely important to the success of a business and finding the right space for your business takes a while. 

What I have learned from my experience and heard from other franchisees in the same stage as me, is that in cities where there is new retail development, finding the right space may be easier, but not necessarily take a lesser amount of time in the end.  In mature cities, you may have to wait for something to become available or be willing to compromise a bit on the size of the space.  However, don't compromise on the most important thing--location, location, location.  And, with retail, don't compromise on the quality of the anchor stores around you.  As a small retailer/business owner, you rely on the draw of the larger anchor stores to fuel your visibility and walk-in traffic.  It is better to wait longer than to settle for B-quality anchor stores.

The other thing I've found is that commercial real estate is very different from residential real estate.  One reason is that with residential brokers, they work in a fairly small radius which normally means that the average price of the homes they are representing don't vary by too much.  A commercial broker, however, might represent a property suitable for Wal-Mart as well as a property suitable for you, the small business owner.  You can guess what that means to you.  Plus, with a commercial lease, there are often attorneys working on both sides, which adds a layer of complexity not normally found with residential real estate transactions.

Truthfully, however, there is no one to blame.  Things just don't always work on our timeframe and we have to be able to adjust our plans as needed.  I believe in keeping the goals in place and pushing as hard as possible to meet them, but if it doesn't happen (at this stage at least) then I think it best not to spend energy on blame and anger, but instead to spend energy on creating a modified plan.